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The naira has opened Tuesday trading at ₦1,326.30 per dollar at the official Nigerian Foreign Exchange Market (NFEM) window.
The latest Central Bank of Nigeria (CBN) data showed that the NFEM rate stood at ₦1,326.3014 per dollar on Monday.
The NFEM rate is calculated using the volume-weighted average of transactions conducted in the official foreign exchange market.
In the parallel market, the dollar traded at about ₦1,385 for buying and ₦1,410 for selling on Tuesday.
Rates at the parallel market can vary depending on dealers, locations and transaction sizes.
The parallel-market selling rate of ₦1,410 represents an ₦83.70 premium over the latest official NFEM rate of ₦1,326.30.
At that selling rate, Nigerians buying $100 would need about ₦141,000, while $1,000 would cost approximately ₦1.41 million.
The naira has remained relatively stable at the official window in recent trading sessions, with the CBN recording ₦1,326.30 per dollar on September 14.
However, the difference between the official and parallel-market rates continues to reflect variations in dollar supply, demand and access.
Exchange rates can change during the day as dollar liquidity, market conditions and demand fluctuate.
For September 15, the latest available figures put the dollar at approximately ₦1,326.30 per dollar at NFEM and between ₦1,385 and ₦1,410 per dollar at the parallel market.
